/biz/ - Business & Finance

[Anonymous No.8791172]

To make money out of Bitcoin you must convince others to buy into it.

The 'early adopters' have cashed out in the form of Lambrghinis and Mansions, having earned Bitcoins for peanuts in 2010, leaving the vast majority of 'investors' with a few crumbs to divide amongst themselves.

So now those bagholders have to work out a way of getting even more new adopters, or the scheme will fail and their losses will be fully realized as everyone rushes for the exits.

Bitcoins do not produce anything of value, as say a logging company does (and thus its stock). As Buffett has correctly pointed out, 'Cheques transfer value - are cheques worth a whole lot of money?'.

With Bitcoin you only get out the money you put in. And in order for someone to make a great deal of money (such as the early adopters who already cashed out for Lamborghinis and the like), there must be a great many losers. That Lamborghini requires the deposits of perhaps 1000 people.

As the image states, the problem with all pyramid schemes is that eventually you run out of buyers. Once you can't find 'greater fools', which must increase exponentially(!) with each round, the pyramid scheme collapses and the majority (the big bottom/newest tier) are left with nothing.

[Anonymous No.8791178]

Not really
Last year finex pumped it 20k
You don't need to tell anyone to buy, just buy yourself and hope someone pumps it or willybot makes a comeback

[Anonymous No.8791177]

>>8791172
everyone knows this, biz is a CIA honeypot

[Anonymous No.8791213]

>Cheques
btc is more than just a way to transfer value. it is the original blockchain tech itself. the problem is that it is old and slow and there's no clear vision of where it will head...anyone who has used ltc knows it is faster. so while i get your point and agree, you miss the value of the technology itself. true, a paper check doesn't have value, but the technology inherent in paper checks (micr ink, security watermarks, etc) is pretty fucking important for banks. basically all people and all banks used checks before the massive use of computers and electronic payment transfers. people still pay with checks and cash checks. the checks themselves have no value, they're just paper, but the technology of the check is a multi-billion dollar industry and banks wouldn't have any alternative to paper checks without these little fucking slips of rectangular paper.

[Anonymous No.8791227]

>>8791177
biz is also an IRS honeypot.
everyone who poasts on /biz/ has had their IP logged and the IRS can easily get records of who is talking about crypto here in case they need to take you to court., and you didn't use something easily traced like cuckbase/gdax

[Anonymous No.8791241]

>open an online dropshipping store
>add bitcoin as a payment option
>start receiving payments from "customers"
>declare your gains and pay taxes
>...
>profit!

[Anonymous No.8791252]

>>8791227
this is why i always say i lose money and never brag about making money, because by now you should know everything is tracked and we are all being watched or at least recorded.

[Anonymous No.8791259]

>>8791213
This touches on an important point that I think most Bitcoiners just don't get. They don't understand how you can separate 'the blockchain' from 'Bitcoin the currency'. What is meant here is not that the Bitcoin blockchain can function without the currency, but that what matters is what the Bitcoin 'technology' allows us to do - and the 'currency' aspect is actually worthless, like the human appendix. And 'the blockchain' can mean a new 'altcoin'.

[Anonymous No.8791360]

>>8791172
anyone who seriously believes bitcoin at this point are a lost cause. they're basically in a cult and are in too deep to back out.
but I do enjoy leaving a reasonable warning every once in a while because it makes their tears more delicious when shit inevitably hits the fan.

[Anonymous No.8791369]

>>8791360
seriously believes bitcoin will make them rich*

[Anonymous No.8791472]

>>8791172
To make money out of anything you must convince others to buy into it.*
real issue with bitcoin are taxes

[Anonymous No.8791482]

Standard FUD talking points. Disregard.

[Anonymous No.8791526]

>>8791172
>'Cheques transfer value - are cheques worth a whole lot of money?'
Buffett said that? Either he is low key filling his bags and this is FUD or he is an absolute brainlet.

[Anonymous No.8791540]

>>8791472
>To make money out of anything you must convince others to buy into it
he's referring to greater fool theory, where the only way anyone makes money from bitcoin is to sell it to someone who thinks he can sell it for more.
most investments pay out dividends over time whether you sell or not, or are building to a point where they can

[Anonymous No.8791726]

bitcoin is more like stocks, you have to sell it to pay someone
except you can really own it

[Anonymous No.8791813]

>>8791726
stocks pay dividends. have you not invested in anything other than crypto?
and you don't really own bitcoin in a legal sense. only in that they're hard for a layman to steal

[Anonymous No.8791849]

>>8791172
Why you fudding so hard then

[Anonymous No.8791921]

>>8791813
most stocks in my country dont pay dividends. I did, in same way I invest in btc/alts
as long as I keep my private keys/wallet files safe I own them

[Anonymous No.8791968]

>>8791921
>most stocks in my country dont pay dividends
I doubt that. the whole point of stocks are dividends. publicly traded companies have a legal obligation to work in the interest of their share holders
>as long as I keep my private keys/wallet files safe I own them
just saying if you lose them the law isn't going to help you

[Anonymous No.8792049]

>>8791968
they can decide not to, those that do lose stock price after right to dividend occured, so never cared about them
>just saying if you lose them the law isn't going to help you
yes

[Anonymous No.8792056]

>>8791172
Do u even research? I bet you are new, if only u knew how many cashed out, when it hi 5k and when it was 8k 80% sold yes we made some money, but u have to understand, no one knew it would ever go this high and at each step we sold half or even more, why wait when I could make 4k from a £20 investment, buy more wait for this dump and u will be fine, just understand that u need to wait and decided when to sell. U can make money from so many different games, don't just look at stupid exchanges like binance, they are full of trading bots, maybe even look into trading bots, fucks knows....

[Anonymous No.8792116]

>>8791172
Lmao practically nobody who owned a shitload of BTC in 2010 is among the current crypto millionaires

[Anonymous No.8792206]

>>8791172
The day crypto changed from currency to stocks is the day I knew it is all going to come crashing down hard